There’s no doubt wheat growers have been through a lot of mental strain and anguish with wheat markets. On AgDay, Kevin Duling of KD Investors told host Clinton Griffiths the volatility is normally seen in a $7 or $8 market, not in a $3 or $4 market.
“I think we may have finally found the bottom,” said Duling. “I think things are changing.”
Wheat prices in northern China have hit a record, a country that holds half of the world’s wheat carryout. Duling believed this to be from hiccups in 2016 production. This could also be from massive short position in hedge funds.
Hear Duling’s full take on China and the wheat market above.